House Republicans Take Aim at Bernanke

Ben Bernanke’s second day on Capitol Hill made it clear that the Fed’s easy-money policies don’t have a lot of fans among House Republicans.

House Financial Services Chairman Jeb Hensarling (R., Texas) kicked off Wednesday’s hearing by saying the Fed chief had taken the United States “to the monetary outer limits,” and recalled that the science fiction show rarely ended well.

“For diminishing marginal benefits, the Federal Reserve‘s unconventional strategy creates considerable risk,” Mr. Hensarling continued, warning that the Fed could trigger another recession or other economic disaster if it doesn’t get the timing and pace of unwinding its massive balance sheet just right.